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Hi all,
So as I continue to look for ways to maximize my credit ratings given my current debt level, I came across this tool included with my credit tracking service. Of course I know that the simulated scores are not expected to be exactly what the reality will be, and I thought I read in some other posts that people tried simulating their score but the actual result was very different from the projection.
It was interesting to break down the algorithms a little bit. The tool allows you to input simulations for each of the 3 CBs. The simulation I chose was "distribute my revolving debt among all of my revolving accounts". This basically took the accounts that I have the highest utilization on and then distribute that among other cards where I have low or zero balances.
The results were interesting:
- EX went from 701 to 752, if I reduce my utilization per account to 34%
- TU no change at 719
- EQ from 723 to 737 if I reduce my utilization per account to 40%
This tells me that EQ tolerates higher utilizations per account. I guess I'll target 34% utilization and report back!
IME simulators like this one are way off base, they are not based on a Fico score but a FAKO and no one uses Fakos to grant credit. I would dismiss its results and use it for fun only.